12 September 2024
12 September 2024
Currently, it is the only operating crude oil refinery in Scotland, one of the six remaining refineries in the UK.
Since the imposition of a raft of international sanctions, Russia has been finding ways to work around them to maintain its oil and gas exports.
The US Treasury has imposed sanctions on two ships smuggling oil and liquefied petroleum gas (LPG) to Syria, seemingly to help raise funds for Hezbollah.
The eastern European nation imports just over half of the total energy it consumes every year.
This move is expected to cut CO₂ emissions by approximately 250,000 tonnes per annum (tpa) and nitrogen oxide (NOx) emissions by around 850tpa.
The 112km pipeline is crucial for transporting crude oil from Saudi Aramco to Bahrain's national refinery, Bapco Refining.
The transaction comprises $461m in cash and around 10.1 million OpCo units, with the equity portion valued at roughly $456m.
Endeavor is a major player in the Midland area of the Permian shale basin, covering both east and west Texas.
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